SCHILLER PARK, Ill., Jan. 21, 2016 (GLOBE NEWSWIRE) -- PSAV announced today that it has signed an agreement to purchase KFP Holding GmBH, a leading provider of event technology services headquartered in Frankfurt, Germany. KFP is a market leader in providing audiovisual and production services and enjoys a strong presence in Germany, Austria and Switzerland. The parties anticipate the closing of the transaction later in the first quarter of this year, subject to customary closing conditions.
The acquisition of KFP is a continuation of PSAV’s strategy to seek growth in the international marketplace and partner with leading event technology providers to service customers across a broader global footprint. The acquisition will extend PSAV’s presence in Europe that includes operations in the UK, Germany, France and Monaco. KFP has been a leading provider in the market place for nearly 20-years. They have a celebrated track record of supplying event technology and communication services to hotels, corporations and meeting and event agencies.
“The entire PSAV team joins me in enthusiastically welcoming KFP into the PSAV family. KFP’s strong market presence in Central Europe accelerates our global growth efforts, and its sterling reputation for excellence and customer service is essential to maintaining our reputation as the go-to event technology partner,” said PSAV President and CEO, Mike McIlwain. “With this partnership, we will be able to provide our venue partners and our customers more capabilities in more places throughout the world.”
KFP’s CEO, Klaus Flettner, who will continue to serve as KFP’s Managing Director, stated: “This is an extremely exciting time for our company and team members. This acquisition offers a stronger combination of resources to our customers, while opening up a world of possibilities and career advancement for our team. I am thrilled to join the PSAV family and developing our combined business in Central Europe.”
KFP will continue to operate as they do today with the added benefit of PSAV’s resources and support structure. The operational structure and leadership team at KFP will remain in place to assist with the transition and manage client relationships.
PSAV is a leading provider in the global event technology services industry. As the event technology provider of choice at leading hotels, resorts and convention centers, our customers look to deliver more dynamic and impactful meetings and events. PSAV’s customers comprise event organizers, corporations, trade associations and meeting planners, and they choose PSAV for its innovative and comprehensive service offerings, exceptional customer service and global platform. PSAV employs more than 7,500 highly trained staff across 1,300 venues throughout the U.S., Canada, the Caribbean, Mexico, Europe and the Middle East. Visit us at www.psav.com and www.company.psav.com.